Marine Link
Thursday, March 28, 2024
SUBSCRIBE

Smax News

26 Feb 2019

ICS Cautions on Sulfur Cap “Free Pass”

The International Chamber of Shipping (ICS) said that it supports the decision in principle by the UN body International Maritime Organization (IMO) that safety or operational concerns about the quality of low sulphur fuels may, in exceptional circumstances, be a valid reason for shipowners to be issued with a Fuel Oil Non Availability Report (FONAR) when the IMO global sulphur cap comes into full effect on 1 January 2020.However, ICS is warning shipowners that this decision by an IMO Sub Committee last week should not in any way be regarded as a ‘free pass’ either to use or carry non-complaint fuel.“FONARs remain a tool of last resort and are not something that a ship will be able to use routinely” said ICS Deputy Secretary General Simon Bennett.

19 Jun 2001

Softship Issues IPO At $3.42 Per Share

German software company Softship will issue shares in its initial public offering at $3.42 per share, below the company's $4.50-$5.35 bookbuilding range, the lead underwriter said on Tuesday. Andreas Beyer, CEO at VEM Virtuelle Emissionshaus, reportedly said the company would delay its initial public offering by one day to June 22 to allow investors to place orders for the stock at the reduced issue price. Due to adverse market conditions, Softship, which makes software for the shipping industry, will not be listed in the small-cap SMAX index but on stock exchange's official trading segment. The company's lower-than-expected issue price comes amid an increasingly unfavorable market environment for IPOs in Germany.